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Finance Minister Arun Jaitley presented the budget in the Lok Sabha today. He identified nine pillars for India’s economic growth. The focus of the budget was on addressing rural issues. Commenting on the budget, Onkarr S Kanwar, Chairman, Apollo Tyres Ltd, said, “The nine pillars articulate the government’s vision and the key themes of the budget are obviously rural and infrastructure, so I think it’s very important to clarify them.” He added, “Rural sector allocations will certainly stimulate demand and bring about economic growth, which is a long overdue reform, but implementation remains critical.” “Based on preliminary reports, we believe this is not the case. Given the government’s prioritization of Skill India and job creation goals, manufacturing has a large share of the budget. Secondly, given the large allocations across sectors, manufacturing has a large share in the budget. Kanwar said the government will maint...

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Budget 2016: A prudent, balanced and growth oriented budget, says Onkar Kanwar, Chairman, Apollo Tyres